
Wurtsboro, NY Rand Commercial has completed the $1,025,000 sale of the fully equipped 7,091 s/f auto repair and collision center located at 61 Sullivan St. The property is situated on 3.5 acres.
The buyer, Spectrum Auto Inc, will relocate its operations to the property.
Rand Commercial represented both parties in the transaction. John Lavelle represented the seller, and Sam Adler represented the buyer.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,